Hero MotoCorp jumps on getting nod to set up wholly owned subsidiary in Brazil
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Hero MotoCorp is currently trading at Rs. 4866.20, up by 241.85 points or 5.23% from its previous closing of Rs. 4624.35 on the BSE.
The scrip opened at Rs. 4631.90 and has touched a high and low of Rs. 4919.85 and Rs. 4631.90 respectively. So far 88783 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 4979.95 on 12-Feb-2024 and a 52 week low of Rs. 2572.15 on 10-May-2023.
Last one week high and low of the scrip stood at Rs. 4919.85 and Rs. 4415.00 respectively. The current market cap of the company is Rs. 97689.34 crore.
The promoters holding in the company stood at 34.76%, while Institutions and Non-Institutions held 56.69% and 8.55% respectively.
Hero MotoCorp has received approval for setting-up a wholly owned subsidiary in Brazil. The line of business of subsidiary relates to manufacturing and distribution of two-wheeler vehicles including parts and accessories thereof. The Board of Directors of the Company in their Meeting held on May 08, 2024, has approved the same.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
